Copyright Benzinga
The CNN Money Fear and Greed index showed further easing in the overall fear level, while the index moved to the “Fear” zone on Monday. U.S. stocks settled higher on Monday, with the Nasdaq Composite surging more than 500 points during the session, recovering part of last week’s steep losses as investors grew more confident about risk assets amid encouraging signs from Washington that the record-long government shutdown may soon conclude. Palantir Technologies Inc. (NYSE:PLTR), which sank more than 11% the previous week, jumped around 9% for its strongest performance since July. Shares of Dole Plc (NYSE:DOLE) surged around 5% on Monday after the company reported third-quarter results. Tyson Foods, Inc. (NYSE:TSN) shares rose over 2% after the company reported better-than-expected fourth-quarter earnings. Most sectors on the S&P 500 closed on a positive note, with consumer discretionary, communication services and information technology stocks recording the biggest gains on Monday. However, consumer staples and real estate stocks bucked the overall market trend, closing the session lower. The Dow Jones closed higher by around 382 points to 47,368.63 on Monday. The S&P 500 gained 1.54% to 6,832.43, while the Nasdaq Composite surged 2.27% to 23,527.17 during Monday's session. Investors are awaiting earnings results from Sea Ltd. (NYSE:SE), Amdocs Ltd. (NASDAQ:DOX) and Cae Inc. (NYSE:CAE) today. What is CNN Business Fear & Greed Index? At a current reading of 31.8, the index moved to the “Fear” zone on Monday, versus a prior reading of 24.9. The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness. Read Next: Top 2 Utilities Stocks That May Crash This Quarter Photo via Shutterstock
